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good deal dearer, chiefly from the taxes which everywhere be found chiefly among the chilhave been laid upon them. The quantity of dren of the common people, who cannot afford these, however, which the labouring poor are to tend them with the same care as those of under any necessity of consuming, is so very better station. Though their marriages aro small, that the increase in their price does not generally more fruitful than those of people compensate the diminution in that of so many of fashion, a smaller proportion of their chilother things. The common complaint, that dren arrive at maturity. In foundling hos luxury extends itself even to the lowest ranks pitals, and among the children brought up by of the people, and that the labouring poor will parish charities, the mortality is still greater not now be contented with the same food, than among those of the common people. clothing, and lodging, which satisfied them in Every species of animals naturally multiformer times, may convince us that it is not plies in proportion to the means of their subthe money price of labour only, but its real sistence, and no species can ever multiply Lerecompence, which has augmented. yond it. But in civilized society, it is only Is this improvement in the circumstances of among the inferior ranks of people that the the lower ranks of the people to be regarded scantiness of subsistence can set limits to the as an advantage, or as an inconveniency, to further multiplication of the human species; the society? The answer seems at first abun- and it can do so in no other way than by de dantly plain. Servants, labourers, and work-stroying a great part of the children which men of different kinds, make up the far great-their fruitful marriages produce. er part of every great political society. But The liberal reward of labour, by enabling what improves the circumstances of the great- them to provide better for their children, and er part, can never be regarded as any incon- consequently to bring up a greater number, veniency to the whole. No society can surely naturally tends to widen and extend those li be flourishing and happy, of which the far mits. It deserves to be remarked, too, that it greater part of the members are poor and mi- necessarily does this as nearly as possible in serable. It is but equity, besides, that they the proportion which the demand for labour who feed, clothe, and lodge the whole body requires If this demand is continually inof the people, should have such a share of the creasing, the reward of labour must necessariproduce of their own labour as to be them-ly encourage in such a manner the marriage selves tolerably well fed, clothed, and lodged. and multiplication of labourers, as may enable Poverty, though it no doubt discourages, them to supply that continually increasing de does not always prevent, marriage. It seems mand by a continually increasing population. even to be favourable to generation. A half- If the reward should at any time be less than starved Highland woman frequently bears more what was requisite for this purpose, the dethan twenty children, while a pampered fine ficiency of hands would soon raise it; and if lady is often incapable of bearing any, and is it should at any time be more, their excessive generally exhausted by two or three. Bar- multiplication would soon lower it to this nerenness, so frequent among women of fashion, cessary rate. The market would be so much is very rare among those of inferior station. understocked with labour in the one case, and Luxury, in the fair sex, while it inflames, per- so much overstocked in the other, as would haps, the passion for enjoyment, seems always soon force back its price to that proper rate to weaken, and frequently to destroy altogeth-which the circumstances of the society requir the powers of generation. ed. It is in this manner that the demand for

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But poverty, though it does not prevent the men, like that for any other commodity, negeneration, is extremely unfavourable to the cessarily regulates the production of men, rearing of children. The tender plant is pro- quickens it when it goes on too slowly, and duced; but in so cold a soil, and so severe a stops it when it advances too fast. It is this climate, soon withers and dies. It is not un-demand which regulates and determines the common, I have been frequently told, in the state of propagation in all the different counHighlands of Scotland, for a mother who has tries of the world; in North America, in Euborn twenty children not to have two alive. rope, and in China; which renders it rapidly Several officers of great experience have as- progressive in the first, slow and gradual in sured me, that, so far from recruiting their the second, and altogether stationary in the regiment, they have never been able to supply last.

it with drums and fifes, from all the soldiers' The wear and tear of a slave, it has been children that were born in it. A greater num- said, is at the expense of his master; but that ber of fine children, however, is seldom seen of a free servant is at his own expense. The anywhere than about a barrack of soldiers. wear and tear of the latter, however, is, ir Very few of them, it seems, arrive at the age reality, as much at the expense of his master of thirteen or fourteen. In some places, one as that of the former. The wages paid to half the children die before they are four years journeymen and servants of every kind must age, in many places before they are seven, be such as may enable them, one with another, and in almost all places before they are nine to continue the race of journeymen and seror ten. This great mortality, however will vants, according as the increasing, diminish

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ing, or stationary demand of the society, may part. Workmen, on the contrary, when they
nappen to require. But though the wear and are liberally paid by the piece, are very apt to
tear of a free servant be equally at the ex- overwork themselves, and to ruin their health
pense of his master, it generally costs him and constitution in a few years. A carpenter
much less than that of a slave. The fund in London, and in some other places, is not
destined for replacing or repairing, if I may supposed to last in his utmost vigour above
say so, the wear and tear of the slave, is com- eight years. Something of the same kind
monly managed by a negligent master or happens in many other trades, in which the
careless overseer. That destined for perform-workmen are paid by the piece; as they ge-
ing the same office with regard to the free- nerally are in manufactures, and even in
man is managed by the freeman himself. country labour, wherever wages are higher
The disorders which generally prevail in the than ordinary. Almost every class of artifi-
economy of the rich, naturally introduce cers is subject to some peculiar infirmity oc-
themselves into the management of the for- casioned by excessive application to their pe-
mer; the strict frugality and parsimonious culiar species of work. Ramuzzini, an emi-
attention of the poor as naturally establish nent Italian physician, has written a particu
themselves in that of the latter. Under such lar book concerning such diseases. We do
different management, the same purpose must not reckon our soldiers the most industrious
require very different degrees of expense to set of people among us; yet when soldiers
execute it.
It appears, accordingly, from the have been employed in some particular sorts
experience of all ages and nations, I believe, of work, and liberally paid by the piece, their
that the work done by freemen comes cheaper officers have frequently been obliged to stipu
in the end than that performed by slaves. It late with the undertaker, that they should not
is found to do so even at Boston, New-York, be allowed to earn above a certain sum every
and Philadelphia, where the wages of com-
mon labour are so very high.

The liberal reward of labour, therefore, as it is the effect of increasing wealth, so it is the cause of increasing population. To com plain of it, is to lament over the necessary cause and effect of the greatest public prosperity.

day, according to the rate at which they were
paid. Till this stipulation was made, mutual
emulation, and the desire of greater gain,
frequently prompted them to overwork them-
selves, and to hurt their health by excessive
labour. Excessive application, during four
days of the week, is frequently the real cause
of the idleness of the other three, so much and
It deserves to be remarked, perhaps, that it so loudly complained of. Great labour, either
is in the progressive state, while the society is of mind or body, continued for several days
advancing to the further acquisition, rather together is, in most men, naturally followed
than when it has acquired its full complement by a great desire of relaxation, which, if not
of riches, that the condition of the labouring restrained by force, or by some strong reces
poor, of the great body of the people, seems sity, is almost irresistible. It is the call of
to be the happiest and the most comfortable. nature, which requires to be relieved by some
It is hard in the stationary, and miserable in indulgence, sometimes of ease only, but some-
the declining state. The progressive state is, times too of dissipation and diversion. If it
in reality, the cheerful and the hearty state to is not complied with, the consequences are
all the different orders of the society; the often dangerous and sometimes fatal, and
stationary is dull; the declining melancholy. such as almost always, sooner or later, bring
The liberal reward of labour, as it encour-on the peculiar infirmity of the trade. If
ages the propagation, so it increases the in- masters would always listen to the dictates of
dustry of the common people. The wages of reason and humanity, they have frequently
labour are the encouragement of industry, occasion rather to moderate, than to animate
which, like every other human quality, im- the application of many of their workmen. It
proves in proportion to the encouragement it will be found, I believe, in every sort of trade,
receives. A plentiful subsistence increases that the man who works so moderately, as to
the bodily strength of the labourer, and the be able to work constantly, not only preserves
comfortable hope of bettering his condition, his health the longest, but, in the course of
and of ending his days, perhaps, in case and the year, executes the greatest quantity of
plenty, animates him to exert that strength to work.

the utmost. Where wages are high, accord- In cheap years it is pretended, workmen
ingly, we shall always find the workmen more are generally more idle, and in dear times
active, diligent, and expeditious, than where more industrious than ordinary
A plentiful
they are low; in England, for example, than subsistence, therefore, it has been concluded.
in Scotland; in the neighbourhood of great relaxes, and a scanty one quickens their in.
towns, than in remote country places. Some dustry. That a little more plenty than ordi
workmen, indeed, when they can earn in four nary may render some workmen idle, cannot
days what will maintain them through the be well doubted; but that it should have this
week, will be idle the other three. This, how-effect upon the greater part, or that men in
ever, is by no means the case with the greater general should work better when they are ill

2

fed, than when they are well fed, when they are hired by the monta or by the year, and are disheartened than when they are in good whose wages and maintenance are the same, spirits, when they are frequently sick than whether they do much or do little, is likely to when they are generally in good health, seems be still greater. Cheap years tend to increase not very probable. Years of dearth, it is to the proportion of independent workmen to De observed, are generally among the com- journeymen and servants of all kinds, and mon people years of sickness and mortality, dear years to diminish it. which cannot fail to diminish the produce of their industry.

A French author of great knowledge and ingenuity, Mr Messance, receiver of the tailIn years of plenty, servants frequently leave lies in the election of St Etienne, endeavours their masters, and trust their subsistence to to shew that the poor do more work in cheap what they can make by their own industry. than in dear years, by comparing the quantity But the same cheapness of provisions, by in- and value of the goods made upon those difcreasing the fund which is destined for the ferent occasions in three different manufacmaintenance of servants, encourages masters, tures; one of coarse woollens, carried on at farmers especially, to employ a greater number. Elbeuf; one of linen, and another of silk, Farmers, upon such occasions, expect more pro- both which extend through the whole gefit from their corn by maintaining a few more nerality of Rouen. It appears from his aclabouring servants, than by selling it at a low count, which is copied from the registers of price in the market. The demand for servants the public offices, that the quantity and value increases, while the number of those who offer of the goods made in all those three manufacto supply that demand diminishes. The price tories has generally been greater in cheap than of labour, therefore, frequently rises in cheap in dear years, and that it has always been years. greatest in the cheapest, and least in the dear. In years of scarcity, the difficulty and un-est years. All the three seem to be stationary certainty of subsistence make all such people manufactures, or which, though their produce eager to return to service. But the high price nay vary somewhat from year to year, are, upof provisions, by diminishing the funds des- on the whole, neither going backwards nor tined for the maintenance of servants, disposes forwards. masters rather to diminish than to increase the

The manufacture of linen in Scotland, and number of those they have. In dear years, that of coarse woollens in the West Riding of too, poor independent workmen frequently Yorkshire, are growing manufactures, of which consume the little stock with which they had the produce is generally, though with some used to supply themselves with the materials variations, increasing both in quantity and vaof their work, and are obliged to become jour-lue. Upon examining, however, the accounts neymen for subsistence. More people want which have been published of their annual employment than easily get it; many are will-produce, I have not been able to observe that ing to take it upon lower terms than ordinary; its variations have had any sensible connection and the wages of both servants and journey-with the dearness or cheapness of the seasons. men frequently sink in dear years. In 1740, a year of great scarcity, both manuMasters of all sorts, therefore, frequently factures, indeed, appear to have declined very make better bargains with their servants in considerably. But in 1756, another year of dear than in cheap years, and find them more great scarcity, the Scotch manufactures made humble and dependent in the former than in more than ordinary advances. The Yorkshire the latter. They naturally, therefore, com- manufacture, indeed, declined, and its promend the former as more favourable to indus- duce did not rise to what it had been in 1755, try. Landlords and farmers, besides, two of till 1766, after the repeal of the American the largest classes of masters, have another stamp act. In that and the following year, reason for being pleased with dear years. The it greatly exceeded what it had ever been be rents of the one, and the profits of the other, fore, and it has continued to advance ever depend very much upon the price of provi- since.

sions. Nothing can be more absurd, how- The produce of all great inanufactures for ever, than to imagine that men in general distant sale must necessarily depend, not so should work less when they work for them- much upon the dearness or cheapness of the selves, than when they work for other people. seasons in the countries where they are carried A poor independent workman will generally on, as upon the circumstances which affect the be more industrious than even a journeyman demand in the countries where they are conwho works by the piece. The one enjoys the sumed; upon peace or war, upon the prospe. whole produce of his own industry, the other rity or declension of other rival manufactures, shares it with his master. The one, in his and upon the good or bad humour of their separate independent state, is less liable to principal customers. A great part of the exthe temptations of bad company, which, in traordinary work, besides, which is probably large manufactories, so frequently ruin the done in cheap years, never enters the public morals of the other. The superiority of the registers of manufactures. The men-servants, independent workman over those servants who who leave their masters, become independent

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raise it. The plenty of a cheap year, on the
contrary, by increasing the demand, tends to
raise the price of labour, as the cheapness of
provisions tends to lower it. In the ordinary

¡abourers. The women return to their pa- The scarcity of a dear year, by diminishing
rents, and commonly spin, in order to make the demand for labour, tends to lower its
clothes for themselves and their families. price, as the high price of provisions tends to
Even the independent workmen do not always
work for public sale, but are employed by
some of their neighbours in manufactures for
family use. The produce of their labour,
therefore, frequently makes no figure in those variations of the prices of provisions, those
public registers, of which the records are some-
times published with so much parade, and
from which our merchants and manufacturers
would often vainly pretend to announce the
prosperity or declension of the greatest em-
pires.

two opposite causes seem to counterbalance
one another, which is probably, in part, the
reason why the wages of labour are every-
where so much more steady and permanent
than the price of provisions.

The increase in the wages of labour necesThough the variations in the price of labour sarily increases the price of many commodinot only do not always correspond with those ties by increasing that part of it which resolves in the price of provisions, but are frequently itself into wages, and so far tends to diminish quite opposite, we must not, upon this ac- their consumption, both at home and abroad. count, imagine that the price of provisions has The same cause, however, which raises the no influence upon that of labour. The money wages of labour, the increase of stock, tends price of labour is necessarily regulated by two to increase its productive powers, and to make circumstances; the demand for labour, and a smaller quantity of labour produce a greater the price of the necessaries and conveniencies quantity of work. The owner of the stock of life. The demand for labour, according as which employs a great number of labourers it happens to be increasing, stationary, or de- necessarily endeavours, for his own advantage, clining, or to require an increasing, station- to make such a proper division and distribu ary, or declining population, determines the tion of employment, that they may be enabled quantities of the necessaries and conveniencies to produce the greatest quantity of work posof life which must be given to the labourer; sible. For the same reason, he endeavours to and the money price of labour is determined supply them with the best machinery which by what is requisite for purchasing this quan- either he or they can think of. What takes tity. Though the money price of labour, therefore, is sometimes high where the price of provisions is low, it would be still higher, the demand continuing the same, if the price of provisions was high.

place among the labourers in a particular workhouse, takes place, for the same reason, among those of a great society. The greater their number, the more they naturally divide themselves into different classes and subdivi It is because the demand for labour in-sions of employments. More heads are occreases in years of sudden and extraordinary cupied in inventing the most proper machinery plenty, and diminishes in those of sudden and for executing the work of each, and it is, extraordinary scarcity, that the money price of therefore, more likely to be invented. There labour sometimes rises in the one, and sinks in the other.

In a year of sudden and extraordinary plenty, there are funds in the hands of many of the employers of industry, sufficient to maintain and employ a greater number of industrious people than had been employed the year before; and this extraordinary number cannot always be had. Those masters, therefore, who want more workmen, bid against one another, in order to get them, which sometimes raises both the real and the money price of their labour.

are many commodities, therefore, which, consequence of these improvements, come to be produced by so much less labour than before, that the increase of its price is more than compensated by the diminution of its quantity. Notes 10, 11.

CHAP. IX.

OF THE PROFITS OF STOCK.

The contrary of this happens in a year of sudden and extraordinary scarcity. The funds THE rise and fall in the profits of stock dedestined for employing industry are less than pend upon the same causes with the rise and they had been the year before. A consider- fall in the wages of labour, the increasing of able number of people are thrown out of em- declining state of the wealth of the society; ployment, who bid one against another, in or- but those causes affect the one and the other der to get it, which sometimes lowers both the very differently. real and the money price of labour. In 1740, The increase of stock, which raises wages, a year of extraordinary scarcity, many people tends to lower profit. When the stocks of were willing to work for bare subsistence. In many rich merchants are turned into the same the succeeding years of plenty, it was more trade, their mutual competition naturally tends difficult to get labourers and servants to lower its profit; and when there is a like

L

increase of stock in all the different trades propriety. They seem to have followea, and carried on in the same society, the same com- not to have gone before, the market rate of petition must produce the same effect in them interest, or the rate at which people of good all.

credit usually borrowed. Since the time of Queen Anne, five per cent. seems to have been rather above than below the market rate. Before the late war, the government borrowed at three per cent. ; and people of good credit in the capital, and in many other parts of the kingdom, at three and a-half, four, and four and a-half per cent.

It is not easy, it has already been observed, to ascertain what are the average wages of labour, even in a particular place, and at a particular time. We can, even in this case, seldom determine more than what are the most usual wages. But even this can seldom be done with regard to the profits of stock. Profit is so very fluctuating, that the person who Since the time of Henry VIII. the wealth carries on a particular trade, cannot always and revenue of the country have been contitell you himself what is the average of his an- nually advancing, and in the course of their nual profit. It is affected, not only by every progress, their pace seems rather to have been variation of price in the commodities which gradually accelerated than retarded. They he deals in, but by the good or bad fortune seem not only to have been going on, but to both of his rivals and of his customers, and by have been going on faster and faster. The a thousand other accidents, to which goods, wages of labour have been continually increas when carried either by sea or by land, or even ing during the same period, and, in the greatwhen stored in a warehouse, are liable. It er part of the different branches of trade and varies, therefore, not only from year to year, manufactures, the profits of stock have been but from day to day, and almost from hour to hour. To ascertain what is the average profit of all the different trades carried on in a great kingdom, must be much more difficult; and to judge of what it may have been formerly, or in remote periods of time, with any degree of precision, must be altogether impos

sible.

diminishing.

It generally requires a greater stock to carry on any sort of trade in a great town than in a country village. The great stocks employed in every branch of trade, and the number of rich competitors, generally reduce the rate of profit in the former below what it is in the latter. But the wages of labour are But though it may be impossible to deter- generally higher in a great town than in a mine, with any degree of precision, what are country village. In a thriving town, the peoor were the average profits of stock, either in ple who have great stocks to employ, frequentthe present or in ancient times, some notion ly cannot get the number of workmen they may be formed of them from the interest of want, and therefore bid against one another, money. It may be laid down as a maxim, in order to get as many as they can, which that wherever a great deal can be made by the raises the wages of labour, and lowers the prouse of money, a great deal will commonly be fits of stock. In the remote parts of the given for the use of it; and that, wherever country, there is frequently not stock suffilittle can be made by it, less will commonly cient to employ all the people, who therefore be given for it. Accordingly, therefore, as bid against one another, in order to get emthe usual market rate of interest varies in any ployment, which lowers the wages of labour, country, we may be assured that the ordinary and raises the profits of stock. profits of stock must vary with it, must sink as it sinks, and rise as it rises. The progress of interest, therefore, may lead us to form some notion of the progress of profit.

In Scotland, though the legal rate of interest is the same as in England, the market rate is rather higher. People of the best credit there seldom borrow under five per cent. By the 37th of Henry VIII. all interest Even private bankers in Edinburgh give four above ten per cent. was declared unlawful. per cent. upon their promissory-notes, of More, it seems, had sometimes been taken be- which payment, either in whole or in part, fore that. In the reign of Edward VI. reli- may be demanded at pleasure. Private bankgious zeal prohibited all interest. This pro-ers in London give no interest for the money hibition, however, like all others of the same which is deposited with them. There are few kind, is said to have produced no effect, and trades which cannot be carried on with a probably rather increased than diminished the smaller stock in Scotland than in England, evil of usury. The statute of Henry VIII. The common rate of profit, therefore, must was revived by the 13th of Elizabeth, cap. 8. be somewhat greater. The wages of labour, and ten per cent. continued to be the legal it has already been observed, are lower in rate of interest till the 21st of James I. when Scotland than in England. The country, too, it was restricted to eight per cent. It was re- is not only much poorer, but the steps by duced to six per cent. soon after the Restor- which it advances to a better condition, for it ation, and by the 12th of Queen Anne, to five is evidently advancing, seem to be much slowper cent. All these different statutory regu-er and more tardy.

lations seem to have been made with great | The legal rate of interest in France has not,

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